Dominica continues its transition from an agriculture based economy to a more modern, high value added services economy. The country has reduced poverty and unemployment significantly for the last decade although presents the lowest income per capita in the Eastern Caribbean Currency Union (ECCU) area. Unlike most Caribbean countries, Dominica´s economy was resilient to the global financial crisis due to continued aid flows, a prudent fiscal management, a well- targeted stimuli program and its lower dependence on the tourism sector. This island still faces development challenges including overdependence on aid flows and foreign debt.
As a member of CARICOM, Domica requires further economic and commercial regional integration, also, further implementation of the Economic Partnership Agreement between this regional group and the EU and to finalise negotiations for a Free Trade Agreement (FTA) with Canada.
Based on the ITC 2014-2018 Strategic Approach to the Caribbean Region, ITC will focus on implementing at regional level the recommendations of strategies recently developed by CARICOM for the cultural industries and professional services sectors.